Stop Being Stressed, Let Our Experienced Writers Handle it for you

  • 100% Original Papers Guaranteed
  • Original and creative work
  • Timely delivery guaranteed
  • 100% confidentiality guarantee

    Ten Principles of Economics and How Markets Work

    Purpose of Assignment 

    In Week 1, students are introduced to the ten fundamental principles on which the study of economics is based. Throughout this course, the students will use these ten principles to better develop their understanding of economics and how society manages its scarce resources. Students will see how markets work using supply and demand for a good to determine both the quantity produced and the price at which the good sells. The concepts of equilibrium and elasticity are used to explain the sensitivity of quantity supplied and quantity demanded to changes in economic variables. Students will see how government policies impact prices and quantities in markets. 

    Assignment Steps

    Resources: Principles of Microeconomics, Ch. 1, 2, 3, 4, and 6. 

    Prepare an 875-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory. 

    Identify the fundamental lessons the Ten Principles of Economics teaches regarding:

    • How people make decisions
    • How people interact
    • How the economy works as a whole 

    Explain the following to help the committee members understand how markets work:

    • How society manages its scarce resources and benefits from economic interdependence.
    • Why the demand curve slopes downward and the supply curve slopes upward.
      • Where the point of equilibrium is and what does it determine?
    • The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.

    Format consistent with APA guidelines.

    Order your paper today and have it written by a professional. You will get assigned a top 10 writer on our team. Additionally, for this your first order, one page will be written for you for free. We guarantee timely delivery and a first class written paper that fully follow your instructions. In case you experience any difficulty placing the order, don’t hesitate to contact our 24/7 support team via the Live Chat at the bottom right of the page. Moreover, use the code below to get more discount.
    Get a 15 % discount on an order above $ 120
    Use the following coupon code :
    ESYD15%2020/21